The market maker of new bonds of Industrial Construction Investment Corporation Accord OJSC will be the International Bank of Azerbaijan. The Bank will provide liquidity of securities of the Corporation during their three years of treatment.
The Department of Public Relations of the Corporation Accord told Turan the yield on the bonds will be 11.75 % per annum. IBA will guarantee the purchase and sale of corporate bonds in a certain quantity and price range. Recall that there have been issued 50,000 bonds with par value of AZN 1,000 each.
Placement of the bonds will be done by LLC International Transaction System, which, as a rule, acts as a broker of the International Bank of Azerbaijan.
Accord first issued bonds in the same amount in 2010. The underwriter of the bonds was LLC Tekhnika Capital Management. The bonds of Accord with the yield of 12% were bought up by local financial companies (banks and insurance companies). Full repayment of the bonds of the first issue ended on 7 November. - 08D-
Economics
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